China’s central government plans more funding for low-carbon technology projects, to extend global green tech dominance
- China’s central government to fund pilot projects featuring advanced green and low-carbon technologies to support the country’s 2060 carbon-neutral goal
- Pilot projects to focus on non-fossil energy usage, clean and efficient utilisation of fossil energy, advanced power grids, energy storage and green hydrogen
China’s central government will direct part of its budget to fund pilot projects featuring advanced green and low-carbon technologies, and support the country’s 2060 carbon-neutral goal, boost its weak economy, and gain a competitive edge in the global green tech market, authorities said on Wednesday.
The National Development and Reform Commission (NDRC), China’s central economic planner, was joined by nine other state agencies calling for local governments to submit project proposals.
These pilot projects will focus on non-fossil energy usage, clean and efficient utilisation of fossil energy, advanced power grids, energy storage and green hydrogen, as well as decarbonisation in emissions-heavy industries and use of advanced carbon capture, utilisation, and storage technologies.
Green tech demonstration projects seek to “accelerate China’s occupation of industrial highlands in the global green and low-carbon tech sector, provide strong support to the carbon-neutral goals and provide green momentum for the country’s high-quality social and economic development”, according to the policy.